kevin. launches new product to cut out card networks at checkout

Wednesday 3 March 2021 12:19 CET | News

Lithuania-based startup kevin. has launched a product that switches customers from card payments to account-to-account (A2A) payments during the payment flow via a PSD2-based open API.

It means that customers who start making a payment using their card can finish using their bank account, a method that may be up to 90% cheaper for merchants, given the fact that for each online payment, merchants must pay a gateway fee, a transaction processing fee, and an interchange fee.

According to the official press release, kevin.'s analytics team conducts a switch analysis for each new market, forecasting the percentage of customers likely to switch from card to A2A payments. In this way, merchants can calculate the potential savings they will make.

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Keywords: startup, product launch, PSD2, account-to-account payment, merchants
Categories: Payments & Commerce | Payments General
Countries: Lithuania
This article is part of category

Payments & Commerce

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